In an opinion article published in the Diario El Salvador “A transoceanic commitment¨. A retrospective look at the joint construction of the High Quality Belt and Road between China and Latin America and the Caribbean (LAC), the official highlighted the continued growth of China’s trade with the region.
She noted that the steady progress is due to “free trade cooperation between the two sides. With the signing of the Free Trade Agreement (FTA) with Ecuador and Nicaragua this year, China now has five free trade partners in the region, including Chile, Peru and Costa Rica.
In addition, negotiations are underway with Honduras, Peru and El Salvador, which will open the doors to a beneficial exchange.
Chunying also highlighted China’s financial support to nations such as Argentina to avoid payment defaults with international banks. In recent years, she said, China provided continuous financial support to the economic and social development of the region, which until the end of 2021 reached 700 billion dollars.
Highlighting the collaboration mechanisms established between the parties, the official said that China’s investments and financing to LAC do not have any political conditions, but are aimed at promoting development. Therefore, she said, what they bring is not the “debt trap, but the driving force for development.
Chunying welcomed more Latin American and Caribbean countries to join the circle of friends of the Belt and Road, and stressed that “we are convinced that the joint construction of the High-Quality Belt and Road between China and LAC will achieve more fruitful results for the greater benefit of both peoples”.
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